CCL.AX fails to close above 20-day moving average


Coca-Cola Amatil Ltd (CCL.AX) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
CCL.AX closes below its opening price unable to hold early session gains
CCL.AX unable to break through key resistance level
CCL.AX fails to close above 20-day moving average
CCL.AX closes within previous day's range
CCL.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 42% Bearish
Technical Forecast:
Overview

CCL.AX ended the week -1.88% lower at 9.39 after flat today on low volume. Trading A$0.11 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CCL.AX
Volatility

Friday's trading range was A$0.15 (1.59%), that's slightly below last trading month's daily average range of A$0.16. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to a key support level at 9.37. Unable to break through the key technical resistance level at 9.53, the market closed below it after spiking as high as 9.54 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After spiking up to 9.54 during the day, the stock found resistance at the 20-day moving average at 9.51.

Trend

Though Coca-Cola Amatil is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Selling could accelerate should prices move below the nearby swing low at 9.26 where further sell stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.

Market Conditions for Coca-Cola Amatil Ltd
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Coca-Cola Amatil Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
BTCUSD 6,266.7342.19 0.68%
TBOND 144.5620.687 0.48%
ASX 6,329.0029.40 0.47%
EURUSD 1.13460.0002 0.02%
DXY 96.580-0.025 -0.03%
GBPUSD 1.2696-0.0026 -0.20%
ETHUSD 279.29-0.83 -0.30%
USDJPY 110.74-0.41 -0.37%
NATGAS 2.939-0.016 -0.54%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV97.45 1.53
1.60%
ACN 10 day candlestick chart for ACN160.41 -0.83
-0.51%
ADBE 10 day candlestick chart for ADBE250.52 -5.53
-2.16%
AAP 10 day candlestick chart for AAP158.03 1.90
1.22%
AES 10 day candlestick chart for AES13.49 -0.01
-0.07%
AET 10 day candlestick chart for AET197.29 0.34
0.17%
AFL 10 day candlestick chart for AFL46.29 -0.22
-0.47%
AMG 10 day candlestick chart for AMG145.43 -1.20
-0.82%
A 10 day candlestick chart for A64.73 -2.02
-3.03%
ABT 10 day candlestick chart for ABT63.47 -0.16
-0.25%